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is the uncool thing important to win an election? the reason people like barack obama is because he is cool. he is a community activist, an organizer. how did that happen? because it's cool. the culture embraces fake coolness over real achievement. kids would rather play faster not been actually be one or being an actor than actually doing something but i will say this. there is a really big bright spot in president obama being reelected. if he had lost he would be back for another four years and he would be 45% more gray which makes him more -- [inaudible] so we are uncool. that is the way the are. that is how we are. i don't believe that. i look at our message. what is our message? we like to build things. making things as cool. nothing wrong with that. we like be like to own stuff. competition is awesome. the liberal view is self-esteem is better. is better to build self-esteem without competition. that doesn't work. the highest incidence of self-esteem can be found in prison. i think i made that up. it's one of those things that you read and he repeated over and over again but if you ever m
presidential election where he travels at the obama campaign. alter the podium over to you now. >> with everybody take a seat. >> thank you all. i'm really looking forward to our discussion this afternoon. instead of doing opening statements, alaskan of a generic question that can help frame the discussion this afternoon and then we will go from there. since sarah, i will start with you in alphabetical order by somebody at the end of the alphabet. the question i pose to all of you is maybe if you could identify which you see as the most important lesson that we should draw from the experience of the past five years with respect to the fha. a part of that and i'd also ask is whether lawmakers and taxpayers should be prepared to accept some level of loss given the deep housing recession we found. i'll start with you. >> i just have to say how much fun it is for me to be back at cap. i think i think the big lesson regarding fha is that a core concept of the federal housing policy if it didn't work as well as we would've liked. it wasn't as nimble as it could've been in the crisis
shouldn't pay anything at all and as you go up you pay a little more. and that's what president obama ran on. we had a huge election for the senate, where he democrats whers picked up seat. for the presidency, for a race that was supposed to be president romney's, according to his people, was president obama's mainly because president obama stood up for the middle class and said, when it comes to taxes, we all have to pay our fair share; no more, no less. so when you tell your friends that the president wants to give you your tax cut, you should tell them also it's being held up by the republicans in congress who are sitting on a bill that passed july 25, 2012. 98% of the american people will get their tax break continued, and only income over $250,000 will be taxed at the same rates when bill clinton was president. let's take a look back at those days. were they harsh for people? no. we had more millionaires created, i remember, in those days than we had in generations. you know why? because when the middle class is strong and he invested in the middle class, he invested in our people, t
was and the obama coalition will be. but it was a bad moment for the romney campaign in this election. >> david mentioned in his opening remarks 47%. it was co-incidentle i think that president obama last 47% and you said that the 47% mr. romney was refering to was republicans. that was coins dental? >> what it demonstrated is a fundamental misunderstanding of the country he wanted to lead. that's what that statement showed. and a lot of those 47%. what was he saying in the statement? what he was saying is there is 47% of the country i got to write those people off because they don't pay federal income tax. and because they don't pay their a bunch of takers. you in this room, you're the makers, you're being victimized by the takers and there is nothing i can do about those takers so forget about it. i think it was a disaster. and a lot of the people in that 47% are in fact the base of the republican party. >> david. >> this is not because we're having a blue hand love in. if the republican party were to listen to half of what steve said in his opening comments they would rehabilitate themselves
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